Raid On Cryptocurrency Offices In Bulgaria - MnTrendsNews

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Sunday, 21 January 2018

Raid On Cryptocurrency Offices In Bulgaria

The Bulgarian authorities have raided the offices of Onecoin as part of multinational efforts to neutralize what has been described as a “centralized cryptocurrency pyramid scheme”. About three million people may have been scammed by the company whose services span across four continents. The Bulgarian authorities were quick to detect that Onecoin had nothing to do with the decentralised Bitcoin.

Servers, documents, and other things have been confiscated by the Bulgarian authorities and about 50 people have been interrogated, but no arrests were made.Bulgarian prosecutors, national security agents and other law enforcing agents were involved in the joint operation.


The raid was conducted on the request of Germany where the Onecoin Bulgarian-born founder, Ruja Ignatova, has been arrested and charged to court.

'Onecoin' payments were banned in the Federal Republic and the UK in 2016 issued warning about carrying out Financial transactions with the cryptocurrency. 

In the space of three years, about 3 million people registered for the educational services offered by 'Onecoin'. The company is suspected of commercial fraud, Money laundering and illegal payments. During a press conderency, security official clarified the difference between Onecoin and Bitcoin, saying that while BTC was decentralized, the so-called cryptocurrency; Onecoin was centralized.

What do you think about the allegations against Onecoin? Do you think that this allegation confirms the fears people have about digital currencies? Please share your views in the comments section; it's not hard at all.

See Also: Cryptocurrency Fraud! US Regulator Sues

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